new currency notes

Subsequent to the current demonetisation of the high value currency by the Government of India, the existing currency notes of Rs.500 and Rs.1000 has ceased to be legal tender.

The Prime Minister of the Country in his message to the nation on that fateful night of 8th November, at 8 pm had mentioned that the main reason for withdrawing the currency notes of these denominations was that these high value bills are mostly used in money laundering schemes apart from the glaring truth that the fake currency being routed into the country from our neighbouring country is mostly in these denominations.

However, the announcement by the Prime Minister to introduce new currency notes of denomination of Rs.2000 has raised a plethora of doubts as to how it would help in curbing the hoarding of black money when it logically seems easier for a person to hoard money in higher denomination, requiring lesser space to store.

I conjure a probable perspective for the withdrawal of the Rs.1000 notes and replacing the same with Rs.2000 notes and this is perhaps what my logical reasoning says.

India wakes up today morning with the knowledge that all the currency notes they have in the twin denominations of Rs.500 and Rs.1,000 have been demonetised.

Years after the fall of its twin towers this very day is forgotten, as America is busy counting votes, Indians are busy counting notes. Ironically, the twin syndrome still seems to haunt us, for us it is the fall of the twin currency, the two biggest denomination notes which dominated the cash transactions in this country since a long time.

Lauded by most, ridiculed by some, this sudden move has even left some spellbound in shock and disbelief. But let me be candid to say that the move has taken the nation by surprise.